CNPC & Syria Sign Production Sharing Agreement

Syrian Petroleum Company and China National Petroleum Corp have signed a 25-year production-sharing deal for the Kebibe field. The wo companies will develop a Syrian oilfield currently yielding 4,500 barrels per day. The agreement has a trial period of two years wherein CNPC will be required to spend $3.5 million on development work in the Kebibe field located in northeastern Syria.

The second phase of development call for CNPC to spend $104.5 million to increase production capacity from the field to 10,000 bpd by improving production from existing wells and drilling more wells.


Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours